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Property Price Trends in Chennai

Last updated: 4 weeks ago
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  • Re : Property Price Trends in Chennai

    The new guideline values are not yet finalized

    The new guideline values are not yet final. There is still one month time for public feedback, and proposed guideline values will be displayed at respective Register offices. Only at end of next month, the new values will be implemented.

    One thing is clear, if these proposed values like Rs.3000 /sq.ft at Tiruporur (almost end of OMR) or Rs.4000 /sq.ft at Guduvanchery are implemented, it will be a catastrophe for the middle class. Apartment prices will also be jacked up by builders, who will use new guideline values as a reason.

    Only a worldwide economic slowdown or big recession can save the middle class, as the money will be squeezed out of the system.

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    • Re : Property Price Trends in Chennai

      i think this will be implemented it would be really fun to see this and that will kill the re brokers and agents mushroommed across nook and corner then the business guys(if its applicable for commercial land too) no one would be able to setup anything on their own as all money would be on land and finally lower middle class to whom it will be a dream to own a land.

      Probably govt has other plans, they would start building houses hence forward and give it to people for free in next election campaign.

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      • Re : Property Price Trends in Chennai

        Correct ...

        Originally posted by contra View Post
        The new guideline values are not yet final. There is still one month time for public feedback, and proposed guideline values will be displayed at respective Register offices. Only at end of next month, the new values will be implemented.

        One thing is clear, if these proposed values like Rs.3000 /sq.ft at Tiruporur (almost end of OMR) or Rs.4000 /sq.ft at Guduvanchery are implemented, it will be a catastrophe for the middle class. Apartment prices will also be jacked up by builders, who will use new guideline values as a reason.

        Only a worldwide economic slowdown or big recession can save the middle class, as the money will be squeezed out of the system.

        Its not final yet. And what kind of feedback will enable lowering of this?

        After all, its not clear how I, as a citizen, can give feedback and figure out how many people are against this high a rise! In other words where is the transparency and necessity for Govt to be forced to revise downwards?

        Maybe Madam wants to get "feedback" of the green variety from parties interested in either lowering or raising the bar!

        Coming to the global recession, rest assured that your wishes will come true possibly 2012 onwards and you will be able to buy at affordable rates that too in full white!

        cheers

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        • Re : Property Price Trends in Chennai

          The price increase in Guduvanchery from 400 to 4000 is an absurd news from the news paper. I have inquired about the pricing in the Sub Registrar office. The revised price in Guduvanchery will be around Rs 700 per sqft, which I guess is fair enough.

          However it again varies from area to area. Such exponential price hike from 400 to 4000 is possible if the plot is right on the GST Main Road. However the inner area will be around Rs 700.

          In general there will be a 60% increase in the GV across all areas in the city

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          • Re : Property Price Trends in Chennai

            Originally posted by surekhaec View Post
            The price increase in Guduvanchery from 400 to 4000 is an absurd news from the news paper. I have inquired about the pricing in the Sub Registrar office. The revised price in Guduvanchery will be around Rs 700 per sqft, which I guess is fair enough.

            However it again varies from area to area. Such exponential price hike from 400 to 4000 is possible if the plot is right on the GST Main Road. However the inner area will be around Rs 700.

            In general there will be a 60% increase in the GV across all areas in the city
            All these newspapers are getting paid by Builders lobby to confuse people. Advertisement money is corrupting them.

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            • Re : Property Price Trends in Chennai

              In newspapers it was mentioned as GST road Guduvanchery which means area on GST road. Tirporur also it mentioned OMR road and not inside. that was my understanding.

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              • Re : Property Price Trends in Chennai

                Real estate sales to dip this season, say industry experts

                Check this link: Real estate sales to dip this season, say industry experts - Hindustan Times

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                • Re : Property Price Trends in Chennai

                  Real estate has been crying from 2008 onwards. Days ahead are dark and gloomy for real estate in India.Sit back and watch the fun. Watch the Banks also who will crying along with them.

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                  • Re : Property Price Trends in Chennai

                    Property Expo 'Grahapravesam 2011'

                    Any idea about Property Expo 'Grahapravesam 2011' recently held at the Chennai Trade Center ?

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                    • Re : Property Price Trends in Chennai

                      Damp October for Chennai housing

                      Damp October for Chennai housing : Business Line : Features / Investment World : Damp October for Chennai housing

                      Source - Business Line

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